Assetmark Inc. lessened its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 89.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,593 shares of the company's stock after selling 30,401 shares during the period. Assetmark Inc.'s holdings in Conagra Brands were worth $117,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its stake in shares of Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company's stock valued at $334,000 after purchasing an additional 445 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Conagra Brands by 8.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,589 shares of the company's stock worth $255,000 after buying an additional 695 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Conagra Brands in the 1st quarter valued at approximately $394,000. Bahl & Gaynor Inc. grew its stake in shares of Conagra Brands by 9.3% in the first quarter. Bahl & Gaynor Inc. now owns 465,632 shares of the company's stock worth $13,801,000 after acquiring an additional 39,718 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Conagra Brands during the first quarter worth $433,000. Hedge funds and other institutional investors own 83.75% of the company's stock.
Conagra Brands Stock Down 0.3 %
NYSE:CAG traded down $0.09 during midday trading on Monday, hitting $26.61. 5,860,906 shares of the company were exchanged, compared to its average volume of 4,741,207. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a market capitalization of $12.70 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $30.20 and a 200 day simple moving average of $30.03.
Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.
Conagra Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.26%. Conagra Brands's dividend payout ratio (DPR) is 135.92%.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Bank of America decreased their target price on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Wells Fargo & Company raised their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a "buy" rating and a $36.00 price target for the company. Finally, BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $31.63.
View Our Latest Research Report on Conagra Brands
About Conagra Brands
(
Free Report)
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.
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